What Punters Look At Before Signing Up for a New Sportsbook

Sports betting has become one of the most popular forms of entertainment in the 21st century. A 2022 survey by TGM research revealed that out of the whole gambling market, sports betting accounted for more than a third. Statista also estimates that by 2029, the number of global sports bettors would have reached 266.1 million users with a user penetration of 3.3%. 

With all this popularity, the number of betting companies is also rising at a rapid pace. Statista estimates 17,604 businesses in the sports betting and lotteries market globally. You can be sure that this is a really huge number. However, with all these businesses in play comes a problem. Knowing and finding the best betting platform to work with, and knowing which will offer you the best gaming experience. 

However, sports betting experts have found the best ways of working around this. This guide will explain some of these things. 

Licensing

One of the most important things to look for in a casino before you can even think of signing up is its licensing. Any punter will want to make sure that the platform is licensed by respected authorities, such as:

• Malta Gaming Authority (MGA)
• UK Gambling Commission (UKGC)
• Gibraltar Regulatory Authority

Having a sportsbook that is regulated by any of these reputable commissions gives punters the confidence that the gaming environment is safe to work with. For example, Betmaster is a newly licensed UK Sportsbook that is attracting a lot of customers from the UK. For such a platform, punters are very sure that dispute resolution processes have been put in place just in case something goes wrong. 

The issue with unregulated sportsbooks is that they might be offering lucrative bonuses, but the risk is greater than the rewards. Whether you will be subject to fair gaming practices or you will receive your winnings promptly is not guaranteed. There have been so many cases of players having their funds frozen because the platform they were working on did not keep its part of the deal. However, with regulated platforms, all these issues are dealt with completely by the regulator. 

Reputation of the sportsbook

A mistake that a punter would make is signing up for a new sportsbook without first going through reviews. You see, statistics reveal that at least 91% of customers first make an online review before they can make a purchase or interact with a merchant. DataReportal also reveals that 37.2% of internet users below the age of 64 claim to use online reviews as a primary source of information for brand research. 

The reason behind all this is to ensure that you are not walking blindly where your money is involved. You do not want to spend sleepless nights just wondering whether the site you signed up for is a safe place to be or not. 

There are many review sites on the internet that help you get the type of platforms you want to work with. You will get sites that have:

• A particular type of bonus
• A certain level of deposits
• Certain promos
• Specific bets
• Particular modes of payment, etc.

The good thing about these review sites is that they employ experts to look through the different sites and confirm whether they are suitable for players. The other thing is that by going through these reviews, you can easily find partnerships that prove to offer you bonuses beyond your imagination.

Additionally, review sites usually have “user reviews” sections, where you get to interact with the experience of real-life players of particular platforms. The more positive user reviews are, the higher the chances that the site is worth working with.

Modes of payment

If you are looking for a good gaming experience, then working with platforms that have your preferred mode of payment is the way to go. With the growing technological advancements, more players are leaning towards digital forms of payment. For example, in 2023, 53% of Americans used digital wallets more frequently than traditional modes of payment. So, it just makes sense that the platform you want to sign up with should be offering advanced modes of payment. 

The modes of payment should also be varied to ensure that players are given the choice of their preferred method. You can find a sportsbook that has payment methods like:

• PayPal
• Venmo
• Credit/debit cards
• Wire transfer
• Crypto
• Google Pay
• Skrill
• Apple Pay
• Samsung Pay

Although these are not the only ones, they are a representation of the most popular payment methods offered by sportsbooks.

Customer support

Customer support is among the most important services that can be offered by a brand. In fact, 86% of reps and 74% of mobile workers, in a report by Salesforce, claimed that customers are having higher expectations than they used to have. This just means that customer service has to put their best foot forward.

But what is good customer service in the online sports betting industry? To start with, availability is key. Top sportsbooks have their channels open 24/7, just in case anyone wants to play anytime. The sportsbooks should also offer multiple channels including, direct lines, email, chat bots and FAQ sections. 

Now, it is not just enough to have staff who are always available, but they should also be knowledgeable. Imagine the frustration you would have not getting answers for a customer support agent. Friendly and knowledgeable staff are a must for any brand to be viable. 

Wrapping up

In conclusion, it is quite important that you are confident in how good a sportsbook is before you can sign up to it. Ensure that it is properly licensed, it is reputable, has multiple payment methods and good customer support. With that, you’re sure that you are on the right path to a great betting experience.